PennyMac Financial Services, Inc. (NYSE:PFSI) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of PennyMac Financial Services, Inc. (NYSE:PFSI - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the six brokerages that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $121.17.

PFSI has been the subject of several recent analyst reports. UBS Group decreased their price target on PennyMac Financial Services from $115.00 to $110.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Keefe, Bruyette & Woods raised shares of PennyMac Financial Services from a "market perform" rating to an "outperform" rating and set a $114.00 target price on the stock in a research note on Tuesday, April 8th. Piper Sandler reduced their price target on shares of PennyMac Financial Services from $130.00 to $128.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company decreased their price objective on shares of PennyMac Financial Services from $125.00 to $120.00 and set an "overweight" rating for the company in a report on Thursday, April 24th.

PennyMac Financial Services Price Performance

NYSE PFSI opened at $94.70 on Thursday. The company has a 50-day moving average price of $96.41 and a two-hundred day moving average price of $100.32. PennyMac Financial Services has a 52 week low of $85.74 and a 52 week high of $119.13. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 0.19 and a beta of 1.55. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 2.96.

PennyMac Financial Services (NYSE:PFSI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The real estate investment trust reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.99 by ($1.57). PennyMac Financial Services had a return on equity of 14.78% and a net margin of 20.27%. The business had revenue of $430.90 million for the quarter, compared to analyst estimates of $520.42 million. During the same quarter in the prior year, the firm posted $0.74 earnings per share. Analysts forecast that PennyMac Financial Services will post 13.77 EPS for the current year.

PennyMac Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Wednesday, May 14th were paid a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, May 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.27%. PennyMac Financial Services's dividend payout ratio is currently 18.40%.

Insider Buying and Selling

In other PennyMac Financial Services news, CFO Daniel Stanley Perotti sold 10,500 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $99.45, for a total value of $1,044,225.00. Following the completion of the transaction, the chief financial officer now directly owns 234,025 shares in the company, valued at $23,273,786.25. This trade represents a 4.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO David Spector sold 5,000 shares of PennyMac Financial Services stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $98.29, for a total transaction of $491,450.00. Following the completion of the transaction, the chief executive officer now directly owns 140,604 shares in the company, valued at approximately $13,819,967.16. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 39,579 shares of company stock worth $3,945,042 in the last ninety days. 15.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PennyMac Financial Services

Hedge funds have recently made changes to their positions in the company. CWM LLC grew its position in PennyMac Financial Services by 71.5% during the 1st quarter. CWM LLC now owns 271 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 113 shares in the last quarter. Strs Ohio purchased a new stake in PennyMac Financial Services in the 1st quarter worth about $30,000. TD Waterhouse Canada Inc. purchased a new stake in PennyMac Financial Services in the 4th quarter worth about $39,000. Sterling Capital Management LLC boosted its position in PennyMac Financial Services by 601.8% during the 4th quarter. Sterling Capital Management LLC now owns 400 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 343 shares during the period. Finally, Aquatic Capital Management LLC purchased a new position in PennyMac Financial Services during the 4th quarter valued at about $71,000. Hedge funds and other institutional investors own 57.87% of the company's stock.

About PennyMac Financial Services

PennyMac Financial Services, Inc, through its subsidiaries, engages in the mortgage banking and investment management activities in the United States. The company operates through three segments: Production, Servicing, and Investment Management. The Production segment is involved in the origination, acquisition, and sale of loans.

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